My Little Pwny: FRAGing is Magic is a custom mod for Steve Jackon Game's fast paced board game, FRAG.
Frag is a fast paced, light-on-rules board game based on computer first-person shooters.
My Little Pony: Friendship is Magic is a cartoon targeted towards young girls that teaches valuable lessons about friendship and has picked up a fan base among adult males.
When you combine the two, you get My Little Pwny: FRAGing is Magic.